The Internal Revenue Service has issued a rule making it easer for US
corporations to bring home money generated by their offshore subsidiaries, in an
effort to make more cash available during the credit crunch.
The current rule permits a company’s foreign units to make a tax-free loan to
the parent company provided it is repaid in 30 days. Over a one-year period, the
company can have outstanding loans from its subsidiaries for up to 60 days.
The temporary rule change enables US multinationals to keep cash from a
single loan for up to 60 days and borrow money for up to 180 days in a one-year
HMRC has won its tenth successive case against tax avoidance schemes promoted by NT Advisors. The Court of Appeal has ruled that NT ... read more
HMRC is continuing to ramp up the number of raids on premises it carries out as part of criminal investigations, searching 761 properties in the last year
Five million taxpayers are ow using digital personal tax accounts (PTA) as part of the making tax digital strategy, HMRC said
Since the release of HMRC’s plans for digital tax reforms, many have agreed with the call for a delay